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CIFAS Cat 4 Marker - Need Advice / Guidance

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  • CIFAS Cat 4 Marker - Need Advice / Guidance

    Good afternoon,

    I came across this website and would like some advice/guidance. A summary of my dilemma is as follows;

    I applied through a broker for funding on a vehicle in May 2021. The broker asked me my income and on receipt of this said that the Funder would require proof of income. When discussing this with the broker I explained I was not comfortable in submitting full 3 month bank statements as I’d never had to do this in financing a vehicle before (through mainstream dealers). An option offered to me was to provide evidence of my income which I did in the form of an extract of a bank statement showing my income payments over 2 months. To cut a long story short the broker sent Applications to 2 Funders (at the time I thought it was only one) and I got the funding through 1 of the Funders. However, I found out earlier this year that the other Funder had placed a CIFAS marker on me for Application Fraud and in the DSAR it stated I had amended statements. I then sent this Funder copies of full bank statements to demonstrate that I had not provided any falsehoods with my income along with a complaint.

    After 8 weeks I received a Final Response accusing me of falsifying statements. I did not have any discussion with the Funder between my complaint and receipt of the Final Response. I sent a letter back to the Funder trying to present a case and asked them to re-consider. They did not reply other than to say I needed to find resolution outside of the bank. I have complained to CIFAS who are currently investigating.

    I actually managed to finally speak to someone at the Funder this week and was advised the marker was raised because the extract of the bank statement did not match the specific page of the full statement I had later sent them. For clarity I had sent them a copy of the pages of the statement where I received the income payment for the value I had confirmed to the broker. I have checked the information I sent to the broker against the pages within the full bank statement and for an unknown reason (which I am trying to confirm with my bank) there does seem to be a variation between the two. The variations seem to be in orders of transactions, some transactions not showing up, and the “sheet number”. To be clear I have not amended statements (I would not know where to start) and would reiterate that the income payment is correct and is not inflated or falsified.

    My question / hope is that someone may be able to offer some guidance to me. I have received a copy this week (finally after weeks of requests) of the Application the broker made and it stated that the Serviceability of the loan was based on an income which they referred to as being within the attachment, and a “Rationale” of that I had cleared / made payments on car finance agreements of similar and higher values prior. These transactions were in the attachment the broker and Funder received.

    Is it correct that this is Application Fraud if there has been no inflation of income/salary and that the document in question which is alleged at being falsified shows the correct income/salary and payments I was making on other vehicle agreements at the time? The documents were never presented as a full 2 or 3 month banking period or a full financial disclosure. I was never advised by the broker the documents were not sufficient either and I have been told by them verbally that they have never had anything like this before.

    Thanks in advance for any guidance/comments.